Kazakhstan’s annual producer inflation edged up to 4% in January 2026, from 3.9% in December, which had marked the lowest reading in 13 months. Price pressures intensified in manufacturing, where inflation accelerated to 14.5% from 13.5%. By contrast, inflation eased in utilities, with price growth for the supply of electricity, gas, steam, hot water and air conditioning slowing to 17.7% from 19.2%. Inflation also decelerated in water supply, sanitation, waste collection, treatment, disposal and pollution control activities, falling to 8.1% from 10.3%. Meanwhile, deflation in mining and quarrying deepened slightly, to -8.3% from -7.4%. On a month-on-month basis, producer prices rebounded to a 0.5% increase in January, following a 1.1% decline in the previous month.